Thailand’s Krungsri Consumer, Bank of Ayudhya’s unsecured loan unit is open to offering credit card spending using cryptocurrencies and digital currencies in the future, as stated by Nayanee Peaugkham, head of Krungsri Consumer Group to the <a href="https://www.bangkokpost.com/business/2214719/krungsri-consumer-open-to-future-cryptocurrency-use" target="_blank" rel="nofollow noopener">Bangkok Post</a>.
<h2><strong>Thailand's Krungsri Consumer Open to Cryptocurrencies</strong></h2>
The loan unit arm of Bank of Ayudhya, one of the largest banks in Thailand is exploring the possibility of using cryptocurrencies and other digital currencies via credit card spending in the future.

In response to the changing consumer behavior in the digital era, the company has been developing digital platforms for both credit card and personal loan products, head of Krungsri Consumer Group, Nayanee Peaugkham said.

Earlier this week, Mastercard <a href="https://www.cryptoknowmics.com/news/mastercard-opts-for-crypto-payments-cards-as-demand-rises-in-asia-pacific/">announced</a> the launch of crypto-linked payment cards for the Asia-Pacific region in partnership with three crypto service providers to allow consumers to instantaneously convert Bitcoin and other cryptocurrencies into fiat currencies.

For the first time, consumers and businesses in Asia-Pacific will be able to apply for crypto-linked Mastercard credit, debit, or prepaid cards that will allow them to convert their Bitcoin into fiat, which can then be used to spend online or across physical retail outlets with any merchants that accept Mastercard payments.

The collaboration comes as interest in cryptocurrencies soars to an all-time high in the Asia Pacific region. The payment giant claims to have found in its latest survey that 45 percent of consumers in the region are open to using cryptocurrencies as payments within the next year, a percentage that is marginally higher than the global average which sits at 40 percent.
<h2><strong>Thailand's Leading banks Embracing Crypto</strong></h2>
Thailand’s leading financial banks are taking an increased interest in the crypto industry. In August, Krungsri Finnovate Company Limited, Bank of Ayudhya PCL’s corporate venture capital arm invested in a Series B fundraising for Zipmex, Asia-Pacific's leading digital assets platform.

In November, <a href="https://www.cryptoknowmics.com/news/siam-real-estate-collaborates-with-bitkub-to-accept-cryptocurrencies-as-payment-for-thailand-real-estate/">Siam Commercial Bank</a>, Thailand’s fourth-largest bank by assets acquired a 51% stake in a cryptocurrency exchange Bitkub for $536 million.

Thailand’s Krungsri Bank Open to Crypto Offerings in Future

Thailand’s Krungsri Consumer is open to offering credit card spending using cryptocurrencies and digital currencies in the future.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Thailand’s Krungsri Bank Open to Crypto Offerings in Future

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